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useryeisonusta
April 2, 2021
Question

Why there is an account to track costs associated with vehicles called Auto but at the same time under Other expenses there are a buch of accounts for vehicles expenses?

  • April 2, 2021
  • 1 reply
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Why there is an account to track costs associated with vehicles called Auto but at the same time under Other expenses there are a buch of accounts for vehicles expenses- like vehicle insurance-vehicle repairs, gas and fuel, tolls, repairs, etc ? what is the difference?

    1 reply

    AlexV
    AlexV
    April 2, 2021

    Hi useryeisonusta!

     

    I'm happy to provide insight about your accounts in Chart of Accounts.

     

    QuickBooks Online allows you to create subaccounts in your Chart of Accounts. This helps you in getting a clearer picture of your income, expenses, and more. For example, if you want to track vehicle-related expenses, you can set up different subaccounts for insurance, repairs, gas, and more.

     

    If you're unsure what account to use or if you really need these, you'll want to seek some advice from your accountant.

     

    Also, please check this link: Create subaccounts in your chart of accounts in QuickBooks Online. This will explain more how this feature can help you.

     

    Keep your posts coming if you need more clarifications. Take care!

    U
    useryeisonustaAuthor
    April 2, 2021

    What I´m trying to say is that for example if I have vehicle expenses like tolls or repairs  I would not know what account to use, if the one called Parking and Tolls and Vehicle Repairs that are under Account Type "Other Expense"  or to create an Auto Account that is under Account Type "Expenses" and create sub accounts for each type of expense. I mean, what is the difference between using the accounts for vehicles under "Other Expense"  and using the Auto Account in Expenses. ?

     

    Regards,

     

    Yeison

      D
      DebSheenD
      April 2, 2021

      Hello, useryeisonusta

      Thank you for sharing your concern here in the Community.

      The Other Expense account is the same as Expense because they're used to track expenses.
      The only difference is how QuickBooks track them in your reports.

      You can also check this article that will help you on how to create subaccounts in your chart of accounts in QuickBooks Online.

      Don't hesitate to reply to this post if you have additional concerns. I'm always here to help.
       

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